Some lawmakers have pushed for insulin prices to be capped. Eli Lilly said on Wednesday it will do so voluntarily.
Drugmaker Eli Lilly announced Wednesday that it plans to cut insulin prices and cap out-of-pocket expenses at $35 a month.The company also announced it would cut the price of its nonbranded insulin to $25 per vial.
The announcement comes amid a political battle to cap the price of insulin. Congress passed the Inflation Reduction Act, which included in a provision that capped insulin prices for Medicare recipients at $35.
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Under pressure, Eli Lilly cuts insulin prices 70%NEW: Eli Lilly is slashing the prices of its most-prescribed insulins amid pressure from consumers and the Biden administration. People with diabetes would see 70% reductions on its most common versions between now and the end of the year.
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Eli Lilly caps the cost of insulin at $35 a monthThe move puts the drugmaker in line with a popular provision in the Inflation Reduction Act that capped the medication’s cost for seniors on Medicare.
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Eli Lilly to slash insulin prices, expand cost capEli Lilly has announced plans to cut the price for insulin products later this year and immediately expand a spending cap for insured patients.
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Eli Lilly to cut insulin prices by 70%, cap monthly costs at $35The price reductions for the life-saving medication come amid criticism that unaffordable insulin may constitute a human rights abuse.
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Eli Lilly to cut insulin prices by 70 percentPharmaceutical giant Eli Lilly is slashing prices of commonly prescribed insulin drugs by 70 percent while capping related out-of-pocket costs at $35 a month, a move that should help address long-standing concerns about the high cost of diabetes care.
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